Dr Reddys, Citius Pharma ink pact to sell rights to anti-cancer agent
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Hyderabad: Dr Reddy's Laboratories Ltd., announced that the company has entered into a definitive agreement with Citius Pharmaceuticals, Inc. pursuant to which it sold all of its rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets.
Under the terms of agreement, Dr. Reddy's will receive $40 million upfront upon the closing of the transaction, followed by approval milestone payment of up to $40 million related to the CTCL (cutaneous T-cell lymphoma) indication approval and up to $70 million for additional indication approvals.
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